April 20, 2024
Skin Excision

Global Skin Excision Market Estimated to Witness High Growth Owing to Rising Prevalence of Skin Cancer

The global skin excision market involves procedures of removing a patch of unhealthy skin from any part of the body through minor surgical procedures. Skin excisions are commonly performed to remove melanoma or non-melanoma skin cancers, benign lesions, and precancerous lesions. Some of the advantages of skin excision include convenience of procedures in outpatient settings, minimal scarring post-surgery, and high cure rates for treated areas. The rising incidence of skin cancers primarily melanoma and non-melanoma cancers have boosted the demand for skin excision procedures globally.

The Global Skin Excision Market is estimated to be valued at US$ 29.9 BN in 2024 and is expected to exhibit a CAGR of 9.0% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in The Global Skin Excision Market are Ethicon Inc., Richard Wolf GMBH, Becton, Dickinson and Company, Integra LifeSciences, Exsurco Medical, Limbs & Things LTD, KARL STORZ GmbH & Co. KG, Aesculap, Inc., Medtronic, Zimmer Biomet, B. Braun SE, Conmed Corporation, Symmetry Surgical Inc., and Surtex Instruments Limited.

The key opportunities in the market include growing demand for minimally invasive procedures and technologically advanced devices for skin excisions. The rising awareness about early skin cancer detection and diagnosis presents lucrative opportunities.

Geographically, North America dominates the global skin excision market and is expected to continue its dominance over the forecast period due to increasing skin cancer incidence, supportive medical reimbursement structure, and availability of advanced treatment options in the region. However, Asia Pacific is anticipated to exhibit the fastest growth over the next few years owing to growing medical tourism, improving healthcare infrastructure, and rising healthcare expenditure.

Market drivers
The primary driver driving the global skin excision market is the increasing incidence of skin cancer cases globally. According to the WHO estimates, over 3 million non-melanoma skin cancers and 132,000 melanoma skin cancers occur worldwide each year. Melanoma incidence rates are also increasing in many parts of the world including North America and Europe. The rising skin cancer burden has boosted the adoption of skin excision procedures substantially.

PEST Analysis
Political: Regulations and reforms related to medical device approvals and usage. Quality standards for medical devices used in skin excision procedures.

Economic: Income levels and healthcare budgets impacting the affordability of surgical procedures. Economic growth influencing public and private healthcare spending.

Social: Awareness levels regarding benefits of early detection and treatment of skin cancer and other conditions. Social stigma related to certain skin conditions and procedures.

Technological: Developments in minimally invasive techniques and instruments. Advances in lasers, cameras, and imaging equipment allowing for precision during procedures. Use of robotics and artificial intelligence to enhance accuracy and reduce risks.

Geographical regions where market in terms of value is concentrated

North America accounts for the largest share of the global skin excision market value, due to early adoption of advanced surgical techniques, favorable reimbursement policies, and presence of major market players in the region. Europe is another major revenue contributor supported by rising prevalence of skin-related conditions and availability of state-of-the-art healthcare facilities.

The fastest growing region for the Global Skin Excision Market

The Asia Pacific region is poised to witness the fastest growth over the forecast period driven by growing medical tourism, increasing healthcare spending of expanding middle class, and improving access to specialized surgical care across populous nations like India and China. Investments in strengthening healthcare infrastructure and initiatives promoting early detection and treatment of cancers are fueling demand in the Asia Pacific skin excision market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it